- This topic is empty.
-
Posts
-
Those of us linked to sports betting on a regular basis probably recognize that in truth, there was never really any “start” point when individuals began betting on sports. It seems pretty natural to place some kind of wager whenever there is a contest between two different sides, whether it is a competition between individuals or between two different teams.
The truth is, you will discover records to show that as long as there happen to be matches between people, on any side, you will discover people that want to add some excitement to the competition through wagering. From the gladiatorial contests in ancient Rome to foot races on North America’s Great Plains, all cultures have put bets involving money or goods when they are watching a competition.
Today, as always, sports betting will be much more sophisticated than those ancient wagers. All over the world, bookmakers both big and small follow a number of different systems which allow them to make money off of people’s penchant for punting. Whether we have been speaking about professional or amateur leagues, you may bet that you will be able to find someone willing to take your wager.
It is important to realize that the story of sports betting is simply as much about these “middle men” than it is about the sport one is betting on. Bookies setup their odds determined by very complex mathematical formulas, which enable them to to determine how they may make a profit off of people’s bets. They do not want too much “action” (money wagered) on one side or another, to prevent losing their profit. Consequently, they have thought up ways to encourage people to bet on each side.
One of those ways is to offer higher payouts in the event the team receiving less bets win. Folks who take the “underdogs” stand to win a great deal more money per dollar bet than individuals who take the favorites.
Similarly, the point spread is used to encourage betting on both sides of the given match. Both methods enable the sports books to come out of each match with some cash.
The story of sports betting involves not just book makers, but additionally the law. You might be acquainted with the popular image of the bookie; a thug who takes money and may behave violently when not paid. In contrast, there are various legal, above board sports books today who are legally sanctioned to take sports bets. In North America, all of these books run out of Las Vegas.
In other areas of the world, sports betting is legal but can also be highly regulated. Governments, and sports bodies as well, desire to protect the honest competitive nature of sports. With the sheer amount of money being bet on the outcome of games, it may be tempting for players to forget about competition in favor of a bribe or any other type of payout. The history of most sports contains stories of players throwing games so that you can receive money from a bookmaker. Laws for example the Professional and Amateur Sports Protection Act attempt to prevent this from taking place by prohibiting sports betting in certain cases and places.
Keep in mind, the next chapter in the story of sports betting may make such efforts moot. Today, sports books are among those businesses that have capitalized on the opportunities available excellent online soccer gambling site. Bettors in North America no longer need to make the trip to Vegas as a way to put some money down on their own favorite team; instead, the ability to wager is just a click of the mouse away.
Not only tend to be more people able to wager on sports through the Internet, the amount of information available increases the prospects of making good bets in a way which has never been seen before. Keep in mind, the information also implies that books are able to compensate, but the opportunities for making some serious money (at some risk) are still around.
It’s safe to state that betting on sports is one thing that has happened throughout human history, and a thing that will happen as long as there are actually competitions between people. Today, the net has taken the story of sports betting to the next level; the end of that chapter has yet to be written!
